Global law firm Proskauer represented Discovery Communications in the sale of its online pet adoption website, Petfinder, to Nestlé Purina PetCare Co. The transaction is expected to close in the third quarter of 2013.
Petfinder receives 100 million visits each year and has been responsible for more than 22 million adoptions since it was founded in 1996. The site features more than 315,000 adoptable pets from 14,000 animal shelters and rescue groups in the U.S., Canada and Mexico.
The sale comes as Discovery Communications refocuses its mission on nonfiction video and media. According to Nestlé Purina, the purchase will allow it to broaden support for pet welfare organizations, strengthen its role as a leading provider of online pet-related information, and better engage with pet consumers. The company plans to add pet nutrition and welfare information to the site. Discovery intends to continue its relationship with Petfinder through advertising with Nestlé Purina and support of the Petfinder Foundation.
The team was led by partner Lauren Boglivi (Corporate) and included partners Robert E. Freeman (Corporate) and Sol Warhaftig (Tax) and Associates Matthew Black (Technology, Media & Communications), Stephen Brecher (Corporate), Jessica Goldenberg (Corporate) and Brad Shron (Tax).